The interdependence among oligopoly firms arises because:
a. the products those firms produce are homogeneous
b. the products those firms produce are heterogeneous.
c. entry barriers are low.
d. a small number of firms produce a large share of industry output.
d
Economics
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Governments usually provide national defense from tax funds because
A) everyone wants national defense. B) national defense benefits everyone. C) more security is better than less. D) it is hard to supply national defense exclusively to the people who willingly pay for it.
Economics
Suppose the economy's production function is Y = AK0.3N0.7. If K = 2000, N = 100, and A = 1, then Y = 246. If A rises by 10 percent, and K and N are unchanged, by how much does Y increase?
A) 5% B) 10% C) 15% D) 20%
Economics